Goldman Sachs shares fall; earnings off

Goldman Sachs (GS), the financial service giant, saw its shares drop more than 1% in pre-market trading, as it reported a profit decline of 7.1%.

Net income fell to $2.17 billion, or $4.38 a share, from $2.33 billion, or $4.60, a year earlier, the company said Friday in a statement.

Many of the big banks all saw declines last quarter as oil prices plunged to the lowest level in years and interest rates fell .

The three largest U.S. banks — JPMorgan Chase (JPM), Bank of America (BAC) and Citigroup (C) — posted their worst combined quarterly trading revenue since 2011.

"We are pleased with our performance during a year characterized by mixed global economic and financial conditions," said Lloyd C. Blankfein, Chairman and Chief Executive Officer, in a statement. "The depth of our global client franchise and our continued discipline on expenses and capital management produced a solid return for our shareholders. Looking ahead, we see evidence of a continued pick up in momentum for the global economy that will improve the opportunity set for 2015."

Also on Friday, PNC Financial Services Group, the second-largest U.S. regional bank, posted profit that beat analysts' estimates with commercial lending up. Fourth-quarter net income fell 1.6% to $1.06 billion, or $1.84 a share, from $1.07 billion, or $1.87, a year earlier, the lender said in a statement.